Chief Financial/Risk Officer

  • Job ID: 12305
  • Location: Service Building-Wenatchee
  • Full/Part Time: Full-Time
  • Regular/Temporary: Regular

APPLICATION MATERIALS

Chelan PUD has retained a recruiting firm, Mycoff Fry Partners Inc, to fill this position. 

DO NOT APPLY VIA THIS WEB PORTAL

Interested parties are directed to contact the following:

Joyce Gallo

Mycoff Fry Partners LLC
(800) 525-9082

jgallo@mfpllc.us

SALARY RANGE

The starting salary range for this position is $256,505  - $320,632 based on qualifications).  With tenure and strong performance in this role an employee may earn up to a maximum of $384,758 annualized.

Introductory Period: New employees holding regular positions must complete an introductory period of twelve months.

BENEFITS EPOA

In addition to competitive wages Chelan PUD employees also enjoy outstanding benefits which include zero cost employer funded medical, dental, and vision healthcare benefits, access to the employee assistance program, a VEBA health reimbursement account, and long-term care.

Washington state retirement PERS participation and optional 457 plan participation with an employer matching 401(a) plan.

Leave, life & disability benefits including paid leave starting at 27 days per calendar year up to 35 with tenure, 11 paid holidays per calendar year, paid jury duty, short-term disability & long-term disability, and basic life, AD&D, and optional voluntary life.

The work life benefits include optional flexible spending accounts for healthcare and dependent care, educational assistance, various rewards and recognition programs and position specific stipends.

For more explanation of the district benefits please visit our benefits website www.mychelanpudbenefits.org.

JOB POSTING

Chief Financial Risk Officer


Join our team at Chelan County Public Utility District. As one of the largest hydroelectric generating utilities in the Northwest, our mission at Chelan PUD is to improve the quality of life for the thousands of people who call our pristine desert and mountain community home.

Overview
The Chief Financial & Risk Officer is responsible for the long-term direction, control and coordination of all financial and risk management activities of the District. This position oversees the Districts +$500 million investment portfolio, $350 million debt portfolio, compliance with bond covenants, State and Federal Regulatory requirements, complex financial reporting of over $2 billion in assets, and +$400 million in annual revenues including significant wholesale energy activity. This position provides executive leadership to subordinate directors and program managers in the areas of strategic financial planning, treasury, general accounting, forecasting, budgeting, external and internal financial reporting, accounts payable, miscellaneous receivables, insurance counterparty credit and collateral management, energy trading back and middle offices, quantitative analysis and the District-wide business intelligence and data analytics program. This position provides executive leadership of the enterprise risk management program to include strategic, operational, financial, market, environmental, regulatory and compliance risks. Directs activities associated with the preservation and investment of the organization's financial assets and funds while ensuring financial transactions, policies and procedures all meet corporate objectives and regulatory requirements. Oversees external financial statements ensuring preparation aligns with Generally Accepted Accounting Principles (GAAP). Responsible for quantitative assessment of the District's risk profile, recommends mitigation strategies, and chairs the Power Risk Management Committee. Responsible for establishing and maintaining relationships with financial institutions and rating agencies. This position works closely with the General Manager on long-term strategy development, the Managing Director of Energy Planning and Trading in forecasting wholesale revenue and managing compliance with power hedging policies, and with the General Counsel/CCO in addressing compliance risks. This position is responsible for developing the funding strategies required to support the District's long-term business and capital plans.

PLEASE NOTE: THIS IS NOT A REMOTE OR HYBRID POSITION. Work takes place in an office environment at our Wenatchee Service Center building. Relocation reimbursement is available.
Responsibilities

  • Strategic Financial Leadership - Directs the District-wide long-range and short-range strategic financial planning and forecasting for effective financial management of the organization to achieve the financial goals identified by the Strategic Plan. Provide understanding of emerging financial and business opportunities that best position the District for future growth and achievement of priority goals and initiatives.
  • Financial Operations - Provides executive management of the accounting, treasury, cash management, debt portfolio management, tax, and budgeting functions. Develops long-range strategy regarding revenue generation, investment portfolio management, short and long-term debt management, asset/liability management and cash management to achieve priority initiatives. Facilitates district-wide business planning.
  • Financial Reporting - Directs the reporting of the organization’s financials to internal and external constituencies. Designs, implements, and initiates improvements to financial controls and accounting procedures. Ensures timely financial and statistical reports for senior management and the Board of Commissioners. Establishes and maintains systems and controls which verify the integrity of all systems, processes and data to ensure they are timely, accurate, and conform with all external reporting requirements. Responsible for independent financial, power purchaser and tax auditors and actuaries. Serves on the District’s audit committee.
  • Financial Relations - Interacts and negotiates with members of the financial community to include banks and rating agencies. Develops working relationships with auditors, underwriters, attorneys, brokers, financial advisors, other utilities, power marketers, public officials, and the community at large.
  • Risk Management - Chairs the Power Risk Management Committee and provides leadership and expertise toward the overall management of enterprise risk. Provides executive leadership for the development and negotiation of power contracts and middle office functions for implementing the power risk management policy. Works closely with the General Manager, Board of Commissioners, and operating groups to define the District’s appetite for risk. Oversee development, documentation, communication of policies and programs directed at risk optimization. Raises awareness for the need of risk management and integrates risk management into the culture and strategic decision making at the District. Responsible for overall development and implementation of the District’s Enterprise Risk Management program.
  • Business Intelligence / Data Analytics - Provides executive leadership of the development, implementation and ongoing management of the District-wide Business Intelligence and Data Analytics programs. Establishes strategic direction, monitors operational performance, identifies and implements opportunities utilizing data, facilitates cross-functional collaboration between workgroups, and monitors the achievement of goals and objectives of the two programs.
  • Commission Support - Provides support and assistance to Commissioners on financial and risk matters and policy issues. Ensure Board members have an adequate understanding of the essential issues and possess the information necessary to evaluate alternatives that facilitates Board action.
  • Maintain regular and predictable attendance: Perform related duties and responsibilities as required. Comply with District policies. Complete all required training. Maintain a working knowledge and comply with District safety procedures and specific safety requirements of this position, and those in accordance with applicable provisions of the Revised Code of Washington (RCW) and Washington Administrative Code (WAC).

Education
Equivalent experience (year for year) may substitute for required education.

  • Bachelor's Degree (B. S., B. A.) from four-year college or university in Finance, Accounting, Business, or Economics or equivalent combination of education and experience required.
  • Candidates with an MBA, CPA, or CFA are strongly preferred.


Experience

  • 15+ years of proven leadership abilities and progressive financial experience required.
  • Candidates will have experience managing full profit and loss, managing a +$500 million investment portfolio, raising and structuring capital in both the debt and equity markets, using derivative/swap products to manage risk, and developing and implementing enterprise-wide risk management programs in a Sarbanes Oxley environment preferred.
  • Energy industry experience preferred.


Licenses and Certifications

  • Certified Public Accountant (CPA) preferred
  • Chartered Financial Analyst (CFA) preferred


Skills and Abilities
A fully skilled incumbent will have the following knowledge skills & abilities:

  • Ability to establish and maintain effective relationships with all levels of the organization to include board members, senior leadership, other agencies, elected officials, customers and the general public.
  • Ability to establish a culture of compliance and maintain strong financial controls.
  • Advanced knowledge of financial engineering principles, practices, and reporting.
  • Understanding of portfolio theory and practice (Risk/Capital allocation).
  • Proven complex analytical and problem resolution skills while focusing on sustainable process solutions.
  • Strong verbal, written and influencing skills.
  • Proven leadership and management of people, resources, and time.
  • Strong knowledge of utility accounting specifically including large generating utilities with wholesale sales operations.
  • Knowledge of both wholesale and retail electricity markets.
  • Knowledge of revenue recognition in the commodity trading industry and company as a whole.
  • Strong knowledge of GAAP, GASB, FASB, FERCD, RCW's, WAC's, District Bond Covenants, District Power Contracts and general business, economic and accounting theory.
  • Asset/Liability management experience.
  • Knowledge of development, implementation and management practices for data analytics and business intelligence enterprise-wide programs.
  • Excellent attention to detail.
  • Proven ability to manage risk, insurance, accounting, treasury, data analytics and financial planning and analysis departments, ensuring integrity, timeliness, and accuracy of reporting and analysis.
  • Proven ability to manage a heavy and varied workload, displaying a positive approach to challenges and problem solving.
  • To perform this job successfully, an individual should have knowledge of Microsoft Outlook Contact Management systems, Microsoft Excel Spreadsheet software and Microsoft Word Processing software. Knowledge of PeopleSoft financials is very helpful.
  • Must be proficient in reading, writing and speaking English.


Background Screening

  • Chelan County Public Utility District #1 conducts background screening of senior management personnel and personnel who have substantial authority over Finance, Energy Trading, Procurement, Internal Audit, Information Technology or Compliance activities.
  • Pursuant to the Payment Card Industry Data Security Standards (PCIDSS), Chelan County Public Utility District #1 conducts background screening of personnel granted rights to access customer credit or debit card holder data or the data environment.
  • Chelan County Public Utility District #1 conducts background screening of personnel who have access to employee confidential information, such as social security numbers, birth certificates, marriage certificates, and/or HIPAA protected information.

Physical Demands

  • Sitting - Frequently
  • Standing - Occasionally
  • Walking - Occasionally
  • Lifting 1-10 lbs Floor-Waist - Occasionally
  • Lifting 1-10 lbs Waist-Shoulders - Occasionally
  • Reach Waist to Shoulder - Occasionally
  • Wrist/hand/fingers manipulation (keyboarding, mousing, etc.) - Occasionally
  • Repetitive Motions - Occasionally
  • Talking - Frequently
  • Hearing - Frequently
  • Visual - Near Acuity - Frequently
  • Visual - Color Discrimination - Frequently


Working Conditions

  • Noise Intensity Level: - Moderate


District Values

  • Safety - Protect public and employee health and safety
  • Stewardship - Acting on behalf of customer-owners, protecting public resources entrusted to us
  • Trustworthy - Competence, integrity, respect
  • Operational Excellence - High-quality innovative work execution

 

 

BACKGROUND SCREENING

Pursuant to the North American Electric Reliability Corporation (NERC) standards, Chelan County Public Utility District #1 conducts background screening of personnel who have access to the District's critical physical and/or cyber assets.

DISCLAIMER

The statements contained herein reflect general details as necessary to describe the principal functions for this job, the level of knowledge and skill typically required, and the scope of responsibility. This should not be considered an all-inclusive listing of work requirements.  Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise to balance the workload.

EEO

Chelan PUD is an Equal Employment Opportunity employer (EOE Minorities/Females/Protected Veterans/Disabled). We value diversity at all levels of the organization. All qualified applicants will receive consideration for employment without regard to any protected classifications as defined by law.

EEO Law Posters can be found on the main Careers page in English and Spanish. 

Chelan PUD will not be offering any work visa sponsorship for this role.

Pay Transparency Nondiscrimination Provision

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-I.35(c)